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ncome:_ otal Each Maximum Amount of Income Within Each Bracket Amount of Actual Income Within Each Bracket Total Amount of Income Tax:_ Marginal Tax Maximum Rate per $100 earned Amount of Tax Within Each Bracket Amount of Actual Tax Within Each Bracket Maximum Total Amount of Tax Within Each Bracket

ncome:_ otal Each Maximum Amount of Income Within Each Bracket Amount of Actual Income Within Each Bracket Total Amount of Income Tax:_ Marginal Tax Maximum Rate per $100 earned Amount of Tax Within Each Bracket Amount of Actual Tax Within Each Bracket Maximum Total Amount of Tax Within Each Bracket

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.1.1MBA
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Last year Diane's annual income was $92,052.  Use the following Income Tax table to calculate how much Daan paid last year in income tax. In the image.

Round your answer to the nearest dollar.  Only enter the number.  Do not enter the dollar sign.  For example: 11,526

Annual Income:_ Maximum Total Income for Each Bracket more than $518,400 no more than $518,400 no more than $207,350 no more than $163,300 no more than $85,525 no more than $40,125 no more than $9,875 Maximum Amount of Income Within Each Bracket $311,050 $44,050 $77,775 $45,400 $30,250 $9,875 Total Income Income Tax Calculations Amount of Actual Income Within Each Bracket Total Amount of Income Tax: Maximum Marginal Tax Rate per $100 earned Amount of Tax Within Each Bracket $37 tax $35 tax $32 tax $24 tax $22 tax $12 tax $10 tax $105,857.50 $14,096 $18,666 $9,988 $3,630 $987.50 Total Tax Amount of Actual Tax Within Each Bracket Maximum Total Amount of Tax Within Each Bracket more than $153,225 no more than $153,225 no more than $47,367.50 no more than $33,271.50 no more than $14,605.50 no more than $4,617.50 no more than $987.50
Transcribed Image Text:Annual Income:_ Maximum Total Income for Each Bracket more than $518,400 no more than $518,400 no more than $207,350 no more than $163,300 no more than $85,525 no more than $40,125 no more than $9,875 Maximum Amount of Income Within Each Bracket $311,050 $44,050 $77,775 $45,400 $30,250 $9,875 Total Income Income Tax Calculations Amount of Actual Income Within Each Bracket Total Amount of Income Tax: Maximum Marginal Tax Rate per $100 earned Amount of Tax Within Each Bracket $37 tax $35 tax $32 tax $24 tax $22 tax $12 tax $10 tax $105,857.50 $14,096 $18,666 $9,988 $3,630 $987.50 Total Tax Amount of Actual Tax Within Each Bracket Maximum Total Amount of Tax Within Each Bracket more than $153,225 no more than $153,225 no more than $47,367.50 no more than $33,271.50 no more than $14,605.50 no more than $4,617.50 no more than $987.50
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